(Yicai Global) June 2 -- China's XtalPi expects to receive up to USD250 million in advance from Eli Lilly and Co. so the American drugmaker can gain access to the Chinese partner's drug development platform to come up with new small molecule medicines.

The maker of diabetes and cancer medicines will get to use the latter's artificial intelligence-based product discovery platform ID4Inno to develop drugs that are so small they can easily enter cells, the Shenzhen-based firm announced on its WeChat account recently.

The startup has unique technology advantages and rich and successful experience in challenging novel drug targets, Chief Executive Ma Jian said, adding that the company is looking forward to helping Eli Lilly develop more diversified drugs. Before this, XtalPi has teamed up with New York-based Pfizer and Germany’s Merck to develop antivirals.

Even Eli Lilly has been adding new partners in China. Last year, the firm joined hands with Innovent Biologics to develop Selpercatinib, a drug used to treat patients that have non–small-cell lung cancer and a certain genetic precondition that makes them more likely to grow tumors. Moreover, Indianapolis-based Eli Lilly worked with Shanghai-based Junshi Biosciences in 2020 to develop an antibody therapy for Covid-19.

Editor: Emmi Laine